Intersect ENT, Inc. (Nasdaq:XENT), a company dedicated to improving the quality of life for patients with ear, nose and throat conditions, today announced that InEk, the German Institute for the Hospital Remuneration System, has assigned NUB (Neue Untersuchungs und Behandlungsmethoden) Status 1 for mometasone furoate implants for 2016.
The purpose of the NUB process is to support the initial introduction of new and innovative medical products by allowing a limited number of participating hospitals to receive reimbursement.
NUB Status 1 is the highest priority designation available, and was only assigned to a minority of product submissions for 2016.
"We believe that the robust clinical evidence supporting PROPEL was key to this favorable decision, which we received on the first application round," stated Lisa Earnhardt, president and chief executive officer, Intersect ENT.
"While our focus as a company is very much on U.S. commercialization as well as development of our pipeline products, this represents an important step in our efforts to build a foundation for international expansion over the coming years."
Intersect ENT, Inc. is dedicated to improving the quality of life for patients with ear, nose and throat conditions. The company markets two steroid releasing implants, PROPEL and PROPEL mini, clinically proven to improve surgical outcomes for patients with chronic sinusitis undergoing ethmoid sinus surgery.
In addition, Intersect ENT is developing new steroid releasing implants designed to provide ENT physicians with even more customized options to treat patients with chronic sinusitis less invasively and more cost effectively. Chronic sinusitis is an inflammatory condition leading to debilitating symptoms and chronic infections, and is one of the most costly conditions to U.S. employers.